American Century Companies Inc. Cuts Stock Holdings in Dave Inc. $DAVE

American Century Companies Inc. reduced its stake in Dave Inc. (NASDAQ:DAVE) by 42.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 196,201 shares of the fintech company’s stock after selling 143,278 shares during the period. American Century Companies Inc. owned approximately 1.47% of Dave worth $52,663,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Great Lakes Advisors LLC purchased a new stake in Dave during the 1st quarter worth about $3,487,000. Pallas Capital Advisors LLC acquired a new position in shares of Dave during the second quarter worth about $227,000. Baader Bank Aktiengesellschaft purchased a new stake in shares of Dave during the second quarter worth approximately $591,000. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Dave during the second quarter worth approximately $656,000. Finally, Harbour Capital Advisors LLC acquired a new stake in Dave in the second quarter valued at approximately $621,000. 18.01% of the stock is owned by institutional investors and hedge funds.

Dave Stock Up 1.3%

Dave stock opened at $213.13 on Friday. The company has a market capitalization of $2.88 billion, a P/E ratio of 21.12 and a beta of 3.89. The company has a debt-to-equity ratio of 0.26, a quick ratio of 8.69 and a current ratio of 8.69. Dave Inc. has a fifty-two week low of $65.46 and a fifty-two week high of $286.45. The stock has a 50-day simple moving average of $219.06 and a 200-day simple moving average of $215.52.

Dave (NASDAQ:DAVE) last released its quarterly earnings results on Tuesday, November 4th. The fintech company reported $4.24 EPS for the quarter, topping the consensus estimate of $2.29 by $1.95. Dave had a return on equity of 65.86% and a net margin of 29.85%.The company had revenue of $150.73 million for the quarter, compared to analyst estimates of $153.09 million. Dave has set its FY 2025 guidance at EPS. Equities research analysts expect that Dave Inc. will post 1.07 earnings per share for the current year.

Dave announced that its Board of Directors has authorized a stock repurchase program on Wednesday, August 13th that allows the company to buyback $125.00 million in shares. This buyback authorization allows the fintech company to buy up to 5.1% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.

Insider Transactions at Dave

In related news, Director Yadin Rozov sold 14,660 shares of the stock in a transaction on Thursday, September 4th. The shares were sold at an average price of $199.54, for a total transaction of $2,925,256.40. Following the completion of the sale, the director owned 79,923 shares in the company, valued at $15,947,835.42. This represents a 15.50% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Imran Khan sold 39,534 shares of Dave stock in a transaction on Monday, September 15th. The shares were sold at an average price of $223.13, for a total transaction of $8,821,221.42. Following the completion of the transaction, the director owned 79,110 shares in the company, valued at approximately $17,651,814.30. This represents a 33.32% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 226,943 shares of company stock worth $50,301,987. Insiders own 28.48% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on DAVE. Canaccord Genuity Group increased their price objective on shares of Dave from $229.00 to $274.00 and gave the company a “buy” rating in a research report on Wednesday, November 5th. Citizens Jmp boosted their target price on shares of Dave from $300.00 to $310.00 and gave the stock a “market outperform” rating in a research note on Wednesday, November 5th. B. Riley restated a “buy” rating and issued a $297.00 price target (up from $277.00) on shares of Dave in a research note on Wednesday, November 5th. Weiss Ratings downgraded Dave from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday. Finally, Citigroup reaffirmed an “outperform” rating on shares of Dave in a research report on Wednesday, November 5th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Dave currently has an average rating of “Moderate Buy” and a consensus target price of $304.25.

About Dave

Dave, Inc is a digital banking service. Its products include a budgeting tool to help members manage their upcoming bills to avoid overspending, cash advances through its flagship ExtraCash product to help members avoid punitive overdraft fees, a Side Hustle product, where Dave helps connect members with supplemental work opportunities, and Dave Banking, a modern checking account experience with valuable tools for building long-term financial health.